Embodiments disclosed herein relate to transaction systems. In particular, some embodiments relate to performing funds transfers, including funds transfers associated with loyalty or reward programs or other virtual currencies.
There are many types of virtual currencies. Merchants of all types use loyalty or reward programs to encourage consumer action. A consumer might have loyalty, reward, or gift card account balances at multiple merchants at any given time, and each of those accounts may be accessed through different cards or account access devices. Many consumers' wallets and purses are filled with different cards. Other loyalty or reward programs require the consumer to remember their login name and password to access a loyalty or reward account. It would be desirable to provide systems and methods that allow easier access to value from these different programs as well as the transfer of value between different programs. In other cases, virtual currencies are used for purchasing, such as Facebook credits to buy such items as virtual goods in games or birthday cards. The virtual currencies could be traded for real currency or could be bought using real currency through the card network.